Panama is exploring the possibility of accepting Bitcoin as a payment method for cargo transit through the Panama Canal, which handles 5% of global trade
Panama is exploring the possibility of accepting Bitcoin as a payment method for cargo transit through the Panama Canal, which handles 5% of global trade. Mayor Mayer Mizrachi of Panama City has proposed allowing freight companies to pay using Bitcoin, aiming to integrate traditional banking with cryptocurrency. Caja de Ahorros, a local bank, is set to offer Bitcoin accounts to facilitate such transactions. This initiative aligns Panama with the Central American countries adopting Bitcoin as part of their financial infrastructure, following the example of El Salvador. The move is part of a broader plan to position Panama as a financial hub by leveraging blockchain technology and digital finance. Additionally, the Bitcoin Lightning Network is scaling, with a $40 billion block generating $10 million annually in routing payments, underscoring the growing utility of Bitcoin in global trade and finance.
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